29 Emcona Street, Tingalpa sold by Ray White Tingalpa $1.15M February 2022
BY SCOTT AUER, PRINCIPAL – RAY WHITE TINGALPA
The start of a new year always invites plenty of speculation about the direction of the real estate markets. Even now entering the third month, it’s hard to talk about 2022 when we are still trying to make sense of 2021! It was the most active year in the real estate market in memory.
Tingalpa saw 139 Sales in 2021 with a median sale price of $715,000 which is up 19.3% on 2020*. Not only is the median sale price up, Tingalpa has entered the million dollar market with numerous properties selling in 2021 over the $1million mark, and this trend has continued into 2022. The vendors of 29 Emcona St, Tingalpa were ecstatic with the recent sale of their renovated highset weatherboard home for an amazing $1.15M, while in the next street over at 11 Puma Street sold in January for $1.6M.
Knockdown/rebuilds are increasingly popular due to limited supply of vacant land in the area. Small splitter-blocks within 200m from a shopping centre are proving popular, while larger more complex sites are being re-considered by developers as viable sub-division projects.
Brisbane in general has had stellar population growth in recent years, driven last year by interstate migration and further pushed along this year by the reopening of international borders. This coupled with a high level of positivity in Queensland’s economy going well and will do better again as it continues to operate more normally in 2022. Add to this the 2032 Olympics – while still some time away it has given Brisbane international status and this seems to have impacted local markets.
Tingalpa, in particular is firmly on the map as an in demand suburb, located a mere 12kms to the city, with easy access to Brisbane Airport, Port of Brisbane and Gateway Motorway. The lifestyle convenience of good schooling, close to amenities and shopping like Westfield Carindale and the Wynnum/Manly foreshores, makes purchasing here all the more enticing to the family-oriented buyers.
We still have extraordinary amounts of enquiries and prospective buyers attending open homes with the majority of properties selling within the first weeks on the market or prior to auction. The influx of buyers wanting to purchase in Tingalpa and surrounds has indeed pushed prices higher than we could have ever anticipated. This is all great news and what more proves what all the locals already know – Tingalpa really is a great place to live!
If you would like to know what your property value is in 2022 give me a call on 0413684268.
*Source Property Data Solutions Pty Ltd 2022 (pricefinder.com.au)
